You're watching...
Private Bank Philadelphia Trust Company CEO Mike Crofton on the outlook for the markets and the sectors investors should consider for their portfolio.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
I give back to the markets now our next guest says markets cheap but warns -- you may have to wait a -- time to get some good returns on your investments.
Joining us now president CEO of Philadelphia trust company might cropped in.
Okay Mike so you're thinking -- People should be yeah but they need to be patient.
Absolutely and don't put your last nickel -- but -- you know stock.
Average and at this point is probably real good -- apply particular certain sectors particularly.
Technology in that consumer Staples those areas you gonna be very well served by over the next 1015 years.
It's not sovereign not -- get people on the market we've been talking about the FaceBook fiasco work pollinate we have these and all this news out of JPMorgan.
You have very mixed economic data that comes in front page page of the papers today -- China's slowing.
So Heidi convince buyers to get in even if it it is consumer Staples -- and studies.
Well you stage -- you don't put your last dollar and you gotta keep some cash from the sidelines and you've got to really be very disciplined -- when the when you pick your spots and how you execute getting into the market.
And you don't buy everything you don't buy across the what we would not -- what FaceBook FaceBook was all right when it came as overvalued now I'd be overvalued debt.
Yeah it's down into the low twenties well yeah.
You know others other stocks that you can look at -- compared on the FaceBook for instance like Intel.
Like Cisco like EMC Qualcomm.
Little if you disagree totally content and the Cisco they're real cheap you can you talk about bill tried and -- is you know content not taken and not taken a risk on the new -- is yet and we just put a list up of General Mills Hynes crap.
Consumer Staples later in your pantry stuff you like well yeah those things you're buying in what do you sell and what do you get rid of right now.
Got rid of a few financials and here actually we -- out of a few financial and -- -- -- did we did actually by JPMorgan -- some of his weakness we think that's a very well run company we think Jamie Dimon is being underestimated here.
He's in the risk business he took a risk and lost the money big deal will make it back.
So we think it's a great time to buy stocks like JPMorgan but other stocks like MetLife where we're in the process selling because we think they may have to raise capital -- that'll.
Put some severe stress on that stock short and -- medium term.
But for the long term worth technology weren't that energy Staples.
Some industrials and ethical backbone industrials companies -- and and his continued.
Churn out earnings to do regardless of what happens in the economy -- if you're gonna have to wait a long time this going to be tremendous volatility.
Some of its macroeconomic but more more -- worse is the geopolitical risk.
It's gonna take a lot of patients to get through all that stuff just -- close of the dirty thing rally of those industrial -- right.
Sell on the ads sell on the -- -- on the insurance companies make cropped enough -- that Philadelphia trust company thank you so there are.
